D11024 vi�iw Ctytierk CITY OF SAINT 13AUL
Pink — Finance Dept.
Canary— Dept.
OFFIGE OF THE MAYOR I I00N
No:
• ADMINISTRATIVE ORDER q_ �l d.7-q o
11UMET REMSIU\ Date: 1
NILXISTRATINT ORDER,Consistent with the authority granted to the Mayor in Section 10.07.4 of the City Charter and
based on the requgst of the Director of the Department of Finance and Mara. ement Services
to amend the 199u budget of the Debt Service fund.the Director of the Department
of Finance and Management Services is authorized to amend said budget in the following manner:
Current Amended
Budget Change Budget
960-Debt Service Fund
89987-1987 Bond Issues
-0611 Long term Debt Interest 441,663 594,600 1,036,263
-0631 Escrow Payment 594,600 (594,600) 0 -
1,036,263 - 0 - 1,036,263
89989-1989 Bond Issues
-0611 Long term Debt Interest 1,501,913 73,063 1,574,976
-0631 Escrow Payment 73,063 (73,063) - 0 -
1,574,976 - 0 - 1,574,976
• 89955-General Debt Pre 1987 Bonds
-0611 Long Term Debt Interest 5,143,939 (470,650) 4,673,289
-0621 Long Term Debt Maturity 10,238,000 (680,000) 9,558,000
89961-Civic Center Debt: Escrow
-0611 Long term Debt Interest - 0 - 470,650 470,650
-0621 Long term Debt Maturity - 0 - 680,000 680,000
15,381,939 - 0 - 15,381,939
�0
Prepared by:A vity Manager All App,pved by;Mayor
la!&j 60UW*--
Requested by:Departmen for �, Date
' DEPAHTMENTIOFFICE/COUNCIL EASSIGN INITIATED
Finance and Management \ ice 21/90 GREEN SHEET NO. 91
CONTACT PERSON 8 PHONE INITIAU DATE INITfAUDATE
❑DEPARTMENT DIRECTOR ❑CITY COUNCIL
Shirley Davis 292-7038 %'� � BER FOR ❑ ITY ATTORNEY ®CITY CLERK
iT BE ON COUNCIL AGENDA BY(DATE) TING BUDGET DIRECTOR .fIN.8 MGT.SERVICES DIR.
ER EI MAYOR(OR ASSISTANT) Finance Accountant JIL
TOTAL#OF SIGNATURE PAGES (CLIP ALL LOCATIONS FOR SIGNATURE) 5 Chief Accountant
ACTION REQUESTED: '
Adjusts debt service budgets to reflect accurate accounting codes for proper payment of principal and interest on
the City's crossover refunding bond issues and the Civic Center general obligation bond issues.
RECOMMENDATIONS:Approve(A)or Reject(R) COUNCIL COMMITTEE/RESEARCH REPORT OPTIONAL
PLANNING COMMISSION _CIVIL SERVICE COMMISSION ANALYST PHONE N iT.
_CIB COMMITTEE
STAFF
COMMENTS: �+ �) 90
_ _
DISTRICT COURT OFFICE OF THE DIRECTOR
SUPPORTS WHICH COUNCIL OBJECTIVE? ND A R A4EN7 OF FINANCE
INITIATING PROBLEM,ISSUE,OPPORTUNITY(Who,What,When,Where,Why): RVI
The debt service (principal & interest) on the crossover refunding bond issues of 1987 & 1989 is palp from an
escrow ac out at American National Bank. Generally Accepted Accounting Principles require these crossover
refunding�is ue transactions be reflected in the debt service activities.
The debt service for the general obligation Civic Center bond issues of 1969 and 1970 (3 issues) is being paid
from a City escrow account funded with proceeds from the HRA Tax Increment Revenue Bond issue of 1989.
ADVANTAGES IF APPROVED:
?xpenditures reflect the proper accounting codes. This is a bookkeeping entry only.
DISADVANTAGES IF APPROVED: RMEWO
None.
JUN 2 8 199
BUDGET OFFICE
DISADVANTAGES IF NOT APPROVED:
Debt service must be paid from accurate accounting codes.
RECEIVED
JtlL23i00
CITY CLERK
TOTAL AMOUNT OF TRANSACTION $ - 0 COST/REVENUE BUDGETED(CIRCLE ONE) YES NO
FUNDING SOURCE ACTIVITY NUMBER
FINANCIAL INFORMATION:(EXPLAIN) This Administrative Order reflects the accurate accounting codes for expenditure.
1)c. ref aua.( C. .